There is a place in the market for everyone no matter what type of business you operate.

Either sell or adapt to operating under the radar.

If you're worried about legal risk, don't start a grow operation.

IMO - If someone is looking to park some money right now I would bet on Englewood, Brookside, Springdale, and Windsor Park.

Increasing rent is a very basic facet of this business and if you do not know this, I assume you do not know the rest of your local landlord/tenant laws. you should not proceed in this business until you fully understand your local laws, and how to operate within them. now to answer your question, any motnh to month lease, oral or written, usually requires 30 days notice and one full monthly rental cycle to change or end the contract. that means if you want to raise rent on May 1, notice needs to be given by March 31.

If you consider as value-add, anything that lowers the expenses and add to the income (at reasonable costs)You could add storage areaPaid preferred parking (depend on area)Billboard with ads on the property (depends on property)Energy efficiency /Utility efficiency (common areas/responsibility of owner)Coin operated beverage machines

I bet most people wish they bought all they could in 2015.

I would suggest being present when this happens so you can see any issues yourselfGet copies of current lease, operating statements for 2 years, any appliance/HVAC/Water Heater purchase receipts, utility bill copies from the sellerDecide what you're going to do for property management.

I still do my due diligence up front and am involved in the big decisions, but I'm not a part of the day-to-day operations. 

They built it without a permit and enforcement compliance stopped operating the entire development.